Axis Bank rose 0.44% to Rs 469 at 9:20 IST on BSE after the bank announced that its board of directors approved the allotment of non-convertible debentures aggregating to Rs 3500 crore on a private placement basis.
The announcement was made after market hours yesterday, 14 December 2016.Meanwhile, the BSE Sensex was down 60.39 points, or 0.23%, to 26,542.45.
On the BSE, 31,213 shares were traded in the counter so far, compared with average daily volume of 7.15 lakh shares in the past one quarter. The stock had hit a high of Rs 469.50 and a low of Rs 456.10 so far during the day.
Axis Bank said that the board of directors approved the allotment of 35,000 unsecured, subordinated, perpetual additional tier 1, Basel III compliant non convertible debentures (Series - 26) of face value of Rs 10 lakh each aggregating Rs 3500 crore on private placement basis.
Axis Bank's net profit declined 83.3% to Rs 319.08 crore on 14.1% growth in total income to Rs 13698.77 crore in Q2 September 2016 over Q2 September 2015.
Axis Bank is one of the biggest private sector banks in India.
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